Carbon: Prices

Energy and Climate Change written question – answered on 1st November 2010.

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Photo of Alan Whitehead Alan Whitehead Labour, Southampton, Test

To ask the Secretary of State for Energy and Climate Change whether he has assessed the merits of introducing mechanisms to underwrite the price of carbon as part of his plans to introduce a carbon floor price.

Photo of Gregory Barker Gregory Barker The Minister of State, Department of Energy and Climate Change

Building on the coalition's commitment to introduce a floor price for carbon, the Chancellor, with the support of the Cabinet, announced in the June Budget that HM Treasury and HMRC would publish proposals in the autumn to reform the climate change levy to provide more certainty and support to the carbon price and encourage investment in low-carbon electricity generation. My officials have been supporting HMRC and HM Treasury in developing these proposals as well as ensuring that they are factored into considerations for wider reform of the electricity market. Full details on proposals to support the carbon price will be published as part of the HM Treasury and HMRC consultation along with an impact assessment.

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